Renaissance Technologies LLC Purchases 4,500 Shares of MultiPlan Co. (NYSE:MPLN)

Renaissance Technologies LLC raised its position in shares of MultiPlan Co. (NYSE:MPLN) by 13.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,415 shares of the company’s stock after purchasing an additional 4,500 shares during the quarter. Renaissance Technologies LLC owned 0.23% of MultiPlan worth $553,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. bought a new stake in MultiPlan during the fourth quarter valued at approximately $292,000. Trexquant Investment LP purchased a new stake in MultiPlan in the 4th quarter worth $610,000. Empowered Funds LLC raised its stake in MultiPlan by 5.0% during the 4th quarter. Empowered Funds LLC now owns 46,191 shares of the company’s stock valued at $683,000 after purchasing an additional 2,188 shares during the period. Geode Capital Management LLC lifted its holdings in shares of MultiPlan by 17.3% in the fourth quarter. Geode Capital Management LLC now owns 67,615 shares of the company’s stock worth $1,000,000 after buying an additional 9,954 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in MultiPlan in the 4th quarter worth $2,494,000. Hedge funds and other institutional investors own 87.15% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup lifted their target price on MultiPlan from $10.00 to $12.50 and gave the stock a “neutral” rating in a report on Friday, January 10th.

MultiPlan Stock Performance

MPLN stock opened at $22.35 on Friday. MultiPlan Co. has a twelve month low of $4.80 and a twelve month high of $31.01. The firm has a market cap of $361.42 million, a price-to-earnings ratio of -0.24 and a beta of 0.13. The business’s fifty day simple moving average is $20.63 and its two-hundred day simple moving average is $15.78. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 21.73.

MultiPlan Company Profile

MultiPlan Corporation, together with its subsidiaries, provides data analytics and technology-enabled cost management, payment, and revenue integrity solutions to the healthcare industry in the United States. The company offers analytics-based services that reduce medical costs, through data-driven algorithms and insights that detect claims over-charges and negotiate or recommend reimbursement; and network-based services that provide contracted discounts with healthcare providers, as well as outsourced network development and management services.